Suezmax spot rates jumped Wednesday after ExxonMobil offered its first crude cargo at a key Nigeria terminal since it declared force majeure in July.
The Baltic Exchange’s average time-charter equivalent rate rose 18.3% today to $10,300 per day, the highest spot earnings for the sector since ExxonMobil halted exports at its Qua Iboe export facility seen weeks ago.
Brokers estimate that spot rates on the TD20 route from Nigeria to Rotterdam have risen to World Scale 50 to 55, up from a range of WS 47.5
